Enterprise Resource Planning (ERP) Systems
Enterprise Resource Planning (ERP) Systems grew popular in the 1990’s with the manufacturing industry and now organizations across all industries are choosing to utilize these systems. The goal of an ERP system is to cover all core functions of a business and carry out financial and business planning functions which previously had been handled by different standalone applications that didn’t talk to one another. These disparate systems were extremely common and resulted in repetitive data entry trying to keep numerous systems updated at the same time, all while having little to no insight and reporting across departments. As ERPs became more popular, integrated systems became the norm. Some of the most common systems today include Banner, SciQuest, SAP, PeopleSoft, and Oracle. Now organizations can sync all department data including purchasing, supply chain management, equipment maintenance, and customer relationship management to create business efficiencies.
Reaping the Benefits
An ERP System can offer:
- Synced Data: Unites and links together multiple processes and parts making the business run more efficiently
- Automated Processes: Automates business critical functions such as order tracking
- Centralized Data: Data is stored in one place and synchronizes giving a more accurate, real-time view of the business
- Information Exchange: Gathers and consolidates data from across multiple departments to facilitate info exchange and automate back office functions
- Data Management: Eliminates financial data siloes and helps break down walls between front end and backend responsibilities
How can my ERP help with an Equipment Maintenance Management Program?
We’ve addressed ERP 101 and how common these systems are in today’s business settings. Next week, we’ll look at how you can utilize this tool to help build a roadmap for an Equipment Maintenance Management Program (EMMP) that can save your organization money.